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TITLE 7 - BANKING AND SECURITIES
PART 2 - TEXAS DEPARTMENT OF BANKING
CHAPTER 35 - CHECK VERIFICATION ENTITIES
SUBCHAPTER C - RESPONSIBILITIES OF THE BANKING COMMISSIONER
SECTION/RULE §35.31 - What is the banking commissioner required to do with respect to the electronic notification system?
Chapter Review Date 04/19/2024

(a) The banking commissioner is required to establish an electronic notification system, through secure email or another secure system, to be used by a financial institution to notify check verification entities as required by §523.052, Business & Commerce Code.(b) The department will maintain the electronic notification system for financial institutions to use to transmit the required information to check verification entities, but the department:(1) will not verify the accuracy, validity, or completeness of any information transmitted through the electronic notification system; and(2) is not furnishing the information to the check verification entities.

Source Note: The provisions of this §35.31 adopted to be effective January 3, 2008, 32 TexReg 9940; amended to be effective September 9, 2010, 35 TexReg 8102.

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